KSH announces $22.3 million in earnings for FY2023

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KSH Holdings has reported FY2023 earnings of $22.3 million, a decrease of $1.9 millions from prior year that ended on March 31, 2023. This is due to the fact that the KSH Holdings’ share of profits from joint ventures and associates decreased.

The revenue for the same year increased 25.4% to $301.4 million in the same year, as KSH reported higher construction revenue with an order book that was more than $240 million at the time of March 31.

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The company will pay the final dividend of one cent, which will bring the full year dividends up to 2 cents.

A majority of KSH’s developed project in Singapore are sold out or close to being sold out until now.

It currently has four property jointly-owned ventures in Singapore Peace Centre/Peace Mansion, Euro-Asia Apartments at 1037 Serangoon Road, Park View Mansions and Bagnall Court.

Within China, KSH is part of a group that is working on an initiative called Singapore Sino Health City in the county of Gaobeidian close to Beijing.

KSH who holds an 22.5% stake in this project, has announced that Phase 1 construction of the project is complete and KSH is beginning to recognize profits from units sold and the construction of Phase 2 has begun.

According to KSH the company, the KSH estimates that more than 60.9% of the approximately 1,300 units that were launched in both phases of the program have been sold.

Additionally, KSH has a 33.75% stake in a different mixed property development in Gaobeidian and has been a positive factor in the FY2023 profits.

KSH has interests in hospitality, too. “We are seeing a steady increase in room occupancy and rates that are boosted by the increased demand for travel, after the opening of economies,” says executive chairman and managing director Choo Chee Onn.

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